Stories like this just really give you a warm and fuzzy feeling about the insurance industry: Health insurance giant Aetna is planning to force up to 650,000 clients to drop their coverage next year as it seeks to raise additional revenue to meet profit expectations. In a third-quarter earnings conference call in late October, officials […]
It looks like all the talk Obama did about AIG yesterday was nothing but a smoke-screen: President Barack Obama said Monday that he would “pursue every single legal avenue to block” $165 million in bonuses to American International Group Inc. employees who were in part responsible for the insurance giant’s near collapse. But hours later, […]
It looks like action is starting to happen in regards to AIG. Of course Cuomo is leading the way: New York state’s attorney general joined the growing list of those angered by news of American International Group’s bonuses, and wants to have details on his desk this afternoon about who is getting it rewarded. Attorney […]
So even though we have given AIG $165 billion of our own money, they can still make massive payouts in the form of bonuses: American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars. AIG is paying […]
AIG has already received over $150 billion from the government, and now they want an additional $60 billion: American Insurance Group, the insurance giant that is 80-percent owned by the US government, is in discussions with the government to secure additional funds so it can keep operating after next Monday, when it will report the […]
All the talk this week about Timothy Geitner’s tax problems seems like even smaller potatoes compared to this: Eighty-three of the nation’s 100 largest corporations, including Citigroup, Bank of America and News Corp., had subsidiaries in offshore tax havens in 2007, and some of the companies received federal bailout funding, a government watchdog said Friday. […]